Mizuho Raises Hologic (NASDAQ:HOLX) Price Target to $90.00

Hologic (NASDAQ:HOLX) had its price target lifted by Mizuho from $85.00 to $90.00 in a research note published on Friday, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

HOLX has been the subject of a number of other reports. Stephens reaffirmed an overweight rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Citigroup downgraded Hologic from a buy rating to a neutral rating and dropped their target price for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on shares of Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Hologic from a strong-buy rating to a buy rating in a research report on Friday, September 27th. Finally, Needham & Company LLC reissued a buy rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Hologic has a consensus rating of Moderate Buy and a consensus price target of $87.27.

Hologic Stock Performance

Shares of Hologic stock opened at $80.24 on Friday. The firm has a market cap of $18.73 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. Hologic has a 52 week low of $64.02 and a 52 week high of $84.67. The business’s fifty day simple moving average is $81.28 and its 200-day simple moving average is $77.43.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. During the same period last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Hologic will post 4.09 earnings per share for the current year.

Insider Activity at Hologic

In other Hologic news, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the transaction, the insider now owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Brandon Schnittker sold 476 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now directly owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total transaction of $417,575.07. Following the completion of the sale, the insider now owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock valued at $1,469,973 in the last ninety days. Insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Several institutional investors have recently added to or reduced their stakes in HOLX. Quent Capital LLC raised its stake in shares of Hologic by 93.5% during the third quarter. Quent Capital LLC now owns 1,128 shares of the medical equipment provider’s stock worth $92,000 after purchasing an additional 545 shares during the last quarter. Trivant Custom Portfolio Group LLC grew its holdings in Hologic by 10.6% during the third quarter. Trivant Custom Portfolio Group LLC now owns 8,179 shares of the medical equipment provider’s stock worth $666,000 after acquiring an additional 782 shares during the period. Czech National Bank raised its position in Hologic by 6.4% in the third quarter. Czech National Bank now owns 47,316 shares of the medical equipment provider’s stock worth $3,854,000 after acquiring an additional 2,843 shares in the last quarter. Anchor Investment Management LLC boosted its position in shares of Hologic by 6.7% during the 2nd quarter. Anchor Investment Management LLC now owns 7,930 shares of the medical equipment provider’s stock worth $589,000 after purchasing an additional 500 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Hologic during the 2nd quarter worth $100,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.